Cantor Fitzgerald Reaffirms "Neutral" Rating for Onto Innovation (NYSE:ONTO)

Onto Innovation (NYSE:ONTO - Get Free Report)'s stock had its "neutral" rating reaffirmed by Cantor Fitzgerald in a report issued on Monday,Benzinga reports. They currently have a $135.00 target price on the semiconductor company's stock, down from their previous target price of $250.00. Cantor Fitzgerald's price target suggests a potential upside of 6.39% from the company's current price.

A number of other analysts have also recently commented on ONTO. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research report on Thursday, February 27th. Jefferies Financial Group reduced their target price on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a report on Friday, March 28th. Benchmark reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Oppenheimer decreased their price objective on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Onto Innovation currently has an average rating of "Moderate Buy" and a consensus price target of $203.75.

Onto Innovation Trading Up 5.1 %

ONTO opened at $126.89 on Monday. The company's 50 day moving average is $126.68 and its 200 day moving average is $162.58. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 0.89 and a beta of 1.46. Onto Innovation has a 12-month low of $98.21 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, analysts predict that Onto Innovation will post 6.26 EPS for the current fiscal year.

Institutional Trading of Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after purchasing an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Onto Innovation by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock valued at $365,380,000 after buying an additional 183,839 shares in the last quarter. Franklin Resources Inc. increased its stake in Onto Innovation by 21.2% in the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after acquiring an additional 271,470 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock worth $252,530,000 after acquiring an additional 444,860 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Onto Innovation by 33.9% during the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock valued at $234,344,000 after acquiring an additional 356,161 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.

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